How the New SNAP Legislation Affects Social Security Recipients | Impact on your Benefits

Learn about the proposed “COLAs Don’t Count Act” and how it might prevent cuts in SNAP benefits due to Social Security COLAs, ensuring food security for recipients.

In this update, explore the significant changes proposed in the “COLAs Don’t Count Act,” which aims to protect SNAP benefits from reductions caused by Social Security cost-of-living adjustments (COLAs). You’ll learn how this legislation could help ensure that increases in Social Security and SSI checks won’t lead to cuts in SNAP eligibility, which is vital for maintaining food security among vulnerable populations. The discussion includes the potential impact on families, the reasoning behind the legislative changes, and how public action can influence outcomes, all under the umbrella of a crucial Social Security update.

How the New SNAP Legislation Affects Social Security Recipients | Impact on your Benefits

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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What to Do If You Missed the Tax Filing Deadline: Steps to Take to Avoid Penalties and Interest

Learn how to handle missing the IRS tax filing deadline with effective steps to minimize penalties, useful payment options, and insights into taxpayer rights.

If you missed the April tax filing deadline, don’t worry! This guide covers essential steps like how to file late and reduce penalties, payment options including installment plans, and methods for using electronic payments like IRS Direct Pay. Discover how special extensions can benefit certain groups like military personnel and residents in disaster areas, and learn about choosing a reputable tax professional. Understand your rights under the Taxpayer Bill of Rights and how these can help you interact more confidently with the IRS.

What to Do If You Missed the Tax Filing Deadline: Steps to Take to Avoid Penalties and Interest

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Money Instructor does not provide tax, legal, accounting, or financial advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, accounting, or financial advice. You should consult your own professional advisors regarding your own situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing.

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Navigating High Interest Rates in 2024: Fed Insights and Tips You Need to Know

Learn how high interest rates in 2024 will impact your finances, from buying a home to investing in stocks, and find out what you can do to adapt.

In 2024, high interest rates are likely to affect many aspects of the economy, and understanding these effects can help you plan better. This overview will cover how persistent inflation is keeping rates high and what this means for your savings, home buying plans, and investments in the stock market. You’ll learn about the Federal Reserve’s role, why interest rates might not decrease soon, and how this situation impacts the housing market and stock investments. Discover strategies to manage your personal finances during these economic conditions.

Navigating High Interest Rates in 2024: Fed Insights and Tips You Need to Know

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Social Security Update: How SSI Rental Subsidy Expansion Increases Benefits

Learn about the expansion of the SSI rental subsidy and how it can increase your Social Security benefits. Discover what this means for eligibility and how to apply.

In this overview, you’ll discover how the latest update from the Social Security Administration can help you or someone you know increase and qualify for more Social Security benefits. We delve into the expansion of the SSI rental subsidy policy, explaining its nationwide reach starting in 2024 and how it could make a difference in monthly benefits for people with disabilities, the elderly, and others in need. This change simplifies the process, broadens eligibility, and reduces the paperwork required, making it easier to get the financial help needed for essentials like rent, food, and medicine.

Social Security Update: How SSI Rental Subsidy Expansion Increases Benefits

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

Categories Financial Planning, Investing and Financial Planning, Retirement, Saving Money, Taxes
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How to Handle Tax Refund Delays: IRS Tips and Tools

Tax refund delayed? Learn why your tax refund might be delayed, how to use IRS tools effectively, and steps to take if your refund doesn’t arrive on time. Understand how to contact the IRS, the benefits of IRS Form 911, and when to reach out for help.

Essential steps to take when your tax refund is stuck. In this tutorial, you’ll learn about common reasons for tax refund delays, including tax errors, and how to effectively navigate IRS tools. Discover how to use the ‘Where’s My Refund’ tool and the steps to take after a six-week delay, including contacting the IRS and utilizing IRS Form 911 with the Taxpayer Advocate Service. We’ll also cover strategies for handling extended delays, such as the potential benefits of interest on late refunds and tips for contacting congressional representatives. Additionally, this update includes essential tax refund tips that will empower you to manage and possibly expedite your tax refund process.

How to Handle Tax Refund Delays: IRS Tips and Tools

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Taxpayer Advocate Service request for assistance, where you can also find instructions and the forms you need to fill.

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Money Instructor does not provide tax, legal, accounting, or financial advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, accounting, or financial advice. You should consult your own professional advisors regarding your own situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing.

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What Is Stagflation and How Does It Affect You? A Simple Guide for Beginners

Learn about stagflation, its definition, causes, and effects on your daily life and finances. Discover tips and strategies to secure your income and manage your budget during economic slowdowns

In this overview of stagflation, viewers will explore the intricate economic condition where stagnant growth meets rising inflation. This discussion covers the definition of stagflation, its causes such as supply shocks and policy missteps, and the personal consequences like higher living costs and fewer job opportunities. Essential strategies for managing money and personal finances during these challenging times, including securing income, investing wisely, budgeting effectively, and implementing saving tips, are thoroughly explained. This content is crucial for anyone aiming to comprehend how economic trends can impact their financial stability and lifestyle directly. Economics 101.

What Is Stagflation and How Does It Affect You? A Simple Guide for Beginners

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Preparing your Budget for Rising Prices Due to the Middle East Conflict

Economic Unrest? Time to budget. With news of a significant military confrontation between Iran and Israel, this kind of geopolitical turmoil could spell higher costs at the pump. Discover how to navigate rising gas prices and manage your budget effectively with practical tips and strategies. Stay informed and prepare to tackle higher living costs with confidence.

Planning ahead for potential gas price hikes. Learn about the impact of rising gas prices triggered by Middle East tensions and how these increases affect everyday expenses. We’ll explore strategies for reducing fuel consumption, such as carpooling and optimizing driving habits. The discussion extends to managing a household budget in response to these costs, incorporating tips on cutting unnecessary expenses and investing in energy-efficient upgrades at home. Engaging with community resources for additional support and staying informed about global economic trends that could influence local prices are also covered, providing a comprehensive approach to handling rising gas and general living costs.

Preparing your Budget for Rising Prices Due to the Middle East Conflict

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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What to Do If You Can’t File or Pay Your Taxes On Time: Extensions, Payments, and IRS Penalties

Learn about tax extensions, payments, and penalties, and how to manage them effectively, whether you’re a freelancer or traditionally employed. Discover how to avoid costly mistakes and protect your future refunds.

Strategies for tax management, particularly if you’re tackling your taxes past the deadline. Grasp the essentials of securing a tax extension with IRS Extension Form 4868 while acknowledging that taxes due by April 15 must still be paid on time. Learn about the potential financial consequences, including tax filing penalties and how they can compound similarly to interest. Freelancers and gig workers will gain insight into the necessity of consistent quarterly taxes to circumvent underpayment penalties. Should you anticipate a tax refund but have delayed your filing, we’ll guide you on how to claim your refund within the crucial three-year limit. Furthermore, for those grappling with tax debt, we outline how to navigate IRS payment plans, providing a safety net for those who cannot settle their tax obligations in full immediately.

Most filers have until April 15. In 2024, some, however, get an extra day or two, or other additional time due to observed holidays, or other situations.

What to Do If You Can’t File or Pay Your Taxes On Time: Extensions, Payments, and IRS Penalties

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Child Tax Credit Bill: 2024 Update on Senate Progress and Legislative Challenges

Learn about the complexities of the child tax credit and its journey through the Senate, including potential impacts on your family’s finances and the broader economy.

Dive into the ongoing Senate debates on the Child Tax Credit Bill, a pivotal piece of legislation impacting American families, particularly those from low-income households. This segment examines the bill’s substantial $78 billion aim to provide family financial support and economic growth through significant tax breaks for businesses. Understand the tax policy challenges and the bipartisan support within the context of Senate legislation, as well as opposition from key figures like Senator Mike Crapo who raise concerns about government spending and budget deficits. The discussion also covers the bill’s potential for inflation adjustment and tax credit refundability, which are essential for reducing child poverty and promoting fiscal responsibility. Lastly, explore the legislative challenges this bill faces as it could reshape social policy and foster economic stability.

Child Tax Credit Bill: 2024 Update on Senate Progress and Legislative Challenges

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Federal Tax Credits and Deductions Explained: A Beginner’s Overview

How to reduce taxes. Learn how to navigate IRS tax deductions and credits to maximize your tax refund. Discover strategies to lower your taxes through detailed explanations of credits like the Child Tax Credit and key deductions.

An introduction to Federal tax credits and deductions. In this guide, you’ll learn how to navigate tax season by understanding various tax deductions and credits available to you. Discover the benefits of choosing between standard and itemized deductions, how family-focused tax credits like the Child Tax Credit and Earned Income Tax Credit can boost your refund, and the financial relief provided by the Child and Dependent Care Credit. We’ll also cover deductions for homeowners, the impact of medical and education costs on your taxes, and special considerations for self-employed individuals and educators. Additionally, explore tax advantages for older adults and eco-friendly upgrades, ensuring you maximize your tax benefits and potentially increase your refund. Tax 101.

Federal Tax Credits and Deductions Explained: A Beginner’s Overview

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Social Security and Inflation: Update on COLA Increases

The latest 2024 update on Social Security’s Cost of Living Adjustment (COLA) comes from recent inflation reports. Discover tax issues, and how inflation affects your benefits and find strategies to preserve your financial health throughout retirement.

Explore the crucial aspects of the Social Security Administration’s (SSA) Cost-of-Living Adjustment (COLA) in 2024 for 2025, its pivotal role against the backdrop of rising inflation, and how it influences your Social Security check. You’ll understand the intricacies of how COLA is determined, focusing on the consumer price index, and discover the tangible effects on recipients of Social Security (SS), Supplemental Security Income (SSI), and Social Security Disability Insurance (SSDI). This guide sheds light on the unforeseen tax consequences stemming from outdated income brackets and offers a roadmap for strategic retirement planning to bolster your purchasing power. Highlighting the necessity of staying informed and flexible in the face of economic shifts, it presents essential advice and strategies to secure a financially stable retirement. By emphasizing the importance of COLA, this overview underscores its role in protecting your future against escalating living costs.

Social Security and Inflation: Update on COLA Increases

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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Do I Still Pay Taxes with a Tax Extension? Avoiding IRS Penalties and Interest

Learn what happens if you don’t pay taxes despite requesting an extension, and understand what filing for a tax extension means for your finances. Discover how to navigate payments and deadlines.

Understand how tax extensions work and what they mean for your tax payments. This rundown gives you the scoop on tax payment deadlines, even if you’ve filed for an extension with IRS form 4868. You’ll learn why it’s important to estimate and pay what you might owe by the usual mid-April deadline to dodge late fees. Organizing your documents, understanding tax deductions and credits, and seeking professional advice are also covered.

Do I Still Pay Taxes with a Tax Extension? Avoiding IRS Penalties and Interest

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Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or investment advice. You should consult your own tax, legal, and investment advisors regarding your own financial situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing. Please note, the context of financial investments can be complex and dynamic, necessitating professional advice tailored to your unique circumstances.

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